Mumbai has flagged off the first jewellery export consignment to the United Kingdom under the India-UK Comprehensive Economic and Trade Agreement (CETA), marking a significant milestone for India's gems and jewellery industry.
The Mumbai flag-off was part of a nationwide initiative held across Delhi, Surat, Jaipur, Chennai and Kolkata to mark India's first jewellery exports to the UK under the landmark trade agreement. The combined shipment is valued at around USD 10 million.
The ceremonies in Mumbai were held at two major export hubs — PCCC Customs at the Bharat Diamond Bourse (BDB) and SEEPZ-SEZ — underscoring the city's importance to India's gem and jewellery export ecosystem.
At PCCC Customs, the event was attended by Santosh Kumar, Commissioner of Customs, Mumbai; Vishwajeet Chimankar, Deputy Director General of Foreign Trade (DGFT); and Shaunak Parikh, Vice Chairman, Gem & Jewellery Export Promotion Council (GJEPC).
Participating exporters included Malabar Gold & Diamonds, Shree Ramkrishna Exports and Venkatesh Jewellers.
CETA eliminates UK import tariffs of up to 4 per cent
The India-UK CETA provides zero-duty access to the UK market once the agreement enters into force, eliminating import tariffs of up to 4 per cent on Indian gems and jewellery.
The trade agreement is expected to provide Indian exporters with a competitive advantage in the UK's USD 4 billion jewellery import market, while supporting higher exports, investment and employment across the sector.
Santosh Kumar said the agreement would improve the competitiveness of Indian exporters in the UK market.
“Customs is committed to supporting this growth through faster clearances, reduced dwell time and seamless trade facilitation, ensuring exporters can fully leverage the benefits of the agreement,” he said.
SEEPZ expects exports to double over time
A separate flag-off ceremony at SEEPZ-SEZ was attended by Dnyaneshwar Patil, Development Commissioner, SEEPZ; Mayur R Mankar, Joint Development Commissioner, SEEPZ-SEZ; Bharat Ghori, Co-Convener, MSME, GJEPC; Vijay Gujarati, Vice-President, SEEMA; and Adil Kotwal, President, SGJMA.
Exporters participating from SEEPZ included Fine Jewellery, Kama Jewellery, Suashish Diamonds, S. Vinodkumar Diamonds, IDI Jewels (India) Manufacturing, Goldstar Jewellery Unit III, Supergems Jewellery Manufacturing, Zenstar Jewellery and Steckbeck Jewelry.
Patil said the removal of the 4 per cent import duty would make Indian gems and jewellery more competitive in the UK market.
“ Our current exports to the UK are around Rs 3,000 crore, and we expect this to grow to nearly Rs 6,000 crore over time,” he said, adding that the agreement would boost production, create new opportunities for exporters and drive demand for Indian gems and jewellery.
GJEPC targets USD 2.5 billion UK exports
GJEPC Chairman Kirit Bhansali said the first shipment marked a new phase in India's global trade journey.
“With zero-duty access, we expect India's gem and jewellery exports to the UK to increase from around USD 754 million to nearly USD 2.5 billion over the next three years,” Bhansali said.
He added that the growth would create opportunities for exporters, manufacturers, MSMEs, artisans and designers, while strengthening India's position in value-added jewellery manufacturing.
GJEPC Vice Chairman Shaunak Parikh said Mumbai's ecosystem, anchored by the Bharat Diamond Bourse and SEEPZ, had positioned the city as a global centre for diamond trading, jewellery manufacturing and exports.
The trade agreement, he said, would help accelerate exports, encourage investment, create employment and strengthen India's position as a preferred global sourcing destination for high-quality jewellery.
Maharashtra sector poised for export growth
The CETA is expected to benefit Maharashtra's gems and jewellery sector by improving market access, promoting value-added manufacturing, generating employment and supporting skill development.
The agreement is also expected to strengthen the participation of MSMEs, artisans and exporters in international markets.
With its established ecosystem spanning diamond trading, jewellery manufacturing, logistics and exports, Mumbai is expected to play a key role in driving India's jewellery export growth under the new trade framework.
The first shipment marks the beginning of a new phase for Indian jewellery exports to the UK, with industry stakeholders expecting zero-duty access to improve competitiveness and expand India's presence in the premium global jewellery market. |
